Powered by

National Securities Corp. initiates coverage of KCAP Financial Inc. at 'neutral'

Jan 13, 2014 - SNL Financial Services Daily

National Securities Corp. analyst Andrew Kerai initiated coverage of KCAP Financial Inc. with a rating of "neutral," and a price target of $9. Kerai set his 2013 and 2014 EPS estimates at 90 cents and 98 cents, respectively.

The analyst wrote in a research report: "The company's shares currently trade with a dividend yield of 12.5% and estimated P/2014 NII of 8.2x compared to our estimated BDC sector medians of 9.2% and 10.5x, respectively. While valuation appears attractive, and we believ...